FedEx shares fall as outlook cut spooks investors
Shares of FedEx Corp fell nearly 10% on Wednesday after the world’s largest packaging company cut its 2020 profit forecast for the second time as it spends heavily to expand its online delivery business and battles slowing global trade.
Wall Street hovers at record highs; FedEx sinks
The S&P 500 and Nasdaq extended a record rally on Wednesday, even as FedEx limited gains after cutting its annual profit forecast for the second time this year.
UK union seeks guarantees on manufacturing after Peugeot-Fiat merger
Britain’s biggest union is seeking guarantees on the long-term future of Peugeot’s plants in Britain after the French carmaker struck a binding deal on Wednesday with Fiat Chrysler to create the world’s fourth-biggest carmaker.
Wall Street opens flat as record-setting rally runs out of steam
U.S. stocks opened largely flat on Wednesday as markets took a breather from a record-setting spree, while FedEx plunged after it cut its annual profit forecast for the second time this year.
Factbox: World’s top automakers as PSA, FCA prepare to merge
Fiat Chrysler Automobiles (FCA) and Peugeot owner PSA have sealed a deal to join forces in a 50-50 share merger worth about $50 billion.
Wall Street set for flat open after record run; FedEx sinks
U.S. stocks were set to open flat on Wednesday as Wall Street’s record-setting rally ran out of steam, while FedEx eyed its worst day since September after cutting its annual profit forecast for the second time this year.
Factbox: Fiat Chrysler, Peugeot tie-up: how does it work?
Fiat Chrysler and Peugeot maker PSA are pushing ahead with a planned merger worth about $50 billion aimed at creating the world’s No. 4 carmaker.
Aramco shares slip on day of MSCI, Tadawul inclusion
Saudi Aramco shares fell almost 3% on Wednesday as investors pocketed profits on the day it was included in the MSCI Emerging Markets Index and the Saudi Tadawul index .
Indian tribunal backs Mistry’s reinstatement at Tata Sons
Cyrus Mistry has won backing from a tribunal to be reinstated as executive chairman of Tata Sons, the holding company behind Indian conglomerate Tata Group, lawyers said on Wednesday, knocking shares in group companies.
Wall Street holiday parties try dropping booze for bootcamps, smoothies
Fruit smoothies may become the new martini for Wall Street holiday parties.
